Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.
Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally.
China's venture capital market made strong gains in the second quarter of 2017, as the total value of new venture investments more than tripled to US$10.7 billion, compared to US$3.5 billion recorded during the first three months of the year, according to a KPMG report.
Legend Capital, the corporate venture capital investment arm of Chinese tech firm Legend Holdings Ltd., has led a series A round worth over RMB100 million (US$14 million) in Bespin Global, a South Korean start-up providing managed cloud services to medium and large enterprises globally.
China-focused venture capital firm GGV Capital has led a US$10 million series A round in Yamibuy, an e-commerce platform focused on selling specialty Chinese and Asian goods to Asian consumers living in North America. Chinese private education firm New Oriental Education & Technology Group Inc. also participated in the round.
Chinese angel investor 10Fund has led a series A round worth tens of million RMB in CloudBrain, a U.S. and China-based artificial intelligence cloud start-up, with participation from WI Harper Group.
China-focused venture capital firm Qiming Venture Partners has led a RMB175 million (US$25 million) series A round in QIAGEN (Suzhou) Translational Medicine Co., a Chinese precision medicine solutions provider.
Alibaba Entrepreneurs Fund, an investment unit of Alibaba Group supporting start-ups in Hong Kong and Taiwan, has teamed up with Hong Kong businessman Adrian Cheng to lead a RMB100 million (US$14 million) series B round in DayDayCook, a Hong Kong-based start-up providing cooking videos and recipes.
In case you haven't heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant's retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.
A fund managed by the Chinese Academy of Sciences Holdings Co., Ltd. has led a RMB150 million (US$22 million) round in Shanghai Slamtec Co., Ltd., a Chinese company providing affordable and high-performance laser sensor solutions for robots in auto localization and navigation.
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